The Japanese government has announced that Tokyo will restore South Korea to its list of preferred export destinations. A yearslong trade dispute had removed South Korea from the preferred list.
The Trade Minister said that the change will take effect on July 21, easing the process companies must go through for exports to South Korea.
South Korea’s trade ministry welcomed the announcement, writing in a news release: “The pending issue of trade restrictions between South Korea and Japan has been fully resolved after the four years since July 2019,” adding that the decision will “help companies in both countries.”